Weekly Market Analytics Chile Vol 12 Num 14

VOL 12 | NUM 14 | 24 October 2025

Power Markets Weekly

CHILE | 13 - 19 October 2025

Power Markets Weekly is a brief weekly review of the electric market operation in Chile, Mexico, Iberia, France and Italy. If you are not a subscriber, please feel free to subscribe here

DNV offers tools for Wholesale Market analysis and operation:

DNV Power Analytics (DNV-PA) is our web-based platform that provides access to constantly updated long-term energy price forecasts.
With a refined design and an improved user experience we are upgrading our digital services for our customers.

Learn more about Power Analytics here

On Friday morning, congestion on a 500 kV line drove a peak price above USD 500.0/MWh in the northern area

Glossary

Global SEN operation

The average price in Polpaico was USD 33.7/MWh, which is 5.3% higher than last week but 29.6% lower compared to one year ago.

Marginal cost evolution in Polpaico during past years

Declines in solar and wind participation by 0.5 pp and 2.5 pp, respectively, combined with a slight increase in dam by 0.5 pp and run-of-river by 0.6 pp, and a reduction in coal by 0.2 pp, led to higher shares of gas and oil increasing by 1.3 pp and 0.4 pp each.

Peak demand reached 11.6 GW on Thursday at 10 AM, with wind and solar contributing 68.9%, while BESS was not injecting.

Generation Mix

Variation

Power range by energy sources (average prices)

Learn more about this chart

Generation evolution

Geothermal

Cogeneration

Biomass

Coal

Gas

Oil

BESS

Dam

Run-of-river

Wind

PV Solar

CSP

This week, the system experienced congestion in two of the main transmission lines. Moreover, the peak price exceeded USD 500/MWh.

The 500 kV Nueva Pan de Azúcar – Polpaico line experienced congestion at dawn on Monday, Thursday and Friday, leading to price decoupling from Polpaico to Puerto Montt, except on Friday, when the price decoupling occurred between Polpaico and Charrúa. Additionally, the line was congested on weekday mornings, causing further price decoupling from Polpaico toward the south.

The 220 kV Charrúa – Santa Clara line experienced congestion, leading to price decoupling in Puerto Montt during the early mornings on Monday and Thursday. Furthermore, the line was also congested on Thursday afternoon and during the nights of Thursday and Friday.

Peak price of the week occurred on Friday morning at 6 AM, when prices ranged between USD 504.4/MWh in Crucero to USD 444.4/MWh in Pan de Azúcar. For most of that hour, the oil power plant “Emelda 2” set the price, ranking as the second most expensive unit on the priority list in block 1.

Marginal cost evolution

Crucero
USD 42.5/MWh

D. de Almagro
USD 40.4/MWh

Pan de Azúcar
USD 39.1/MWh

Polpaico
USD 33.7/MWh

Charrúa
USD 31.8/MWh

Puerto Montt
USD 22.6/MWh

Solar and Wind production & BESS dispatch

Solar injection decreased its system plant factor by 0.2 pp compared to last week, reaching 22.2%. The highest plant factor was in Charrúa with 24.4%, while the lowest was in Diego de Almagro with 18.6%.

Wind injection also decreased its system plant factor, in this case by 3.7 pp compared to last week and reaching 20.7%. The highest plant factor was in Charrúa with 35.6%, while the lowest was in Pan de Azúcar with 13.2%.

On Thursday, wind injection in Charrúa totaled 21.9 GWh, reaching the highest plant factor of the week at 59.8%.

The total BESS discharge reached 51.1 GWh, which is 4.2 GWh higher than the injection recorded last week. The highest injection was in Crucero with 42.5 GWh, while the lowest was in Pan de Azúcar with 38 MWh.

The combined curtailment rate for solar and wind generation rose by 1.1 pp compared to last week, reaching 21.8%. Solar curtailment reached 25.5% | 141.6 GWh while wind curtailment was 15.2% | 39.9 GWh.